JPMorgan Increases iShares Bitcoin Trust Holdings by 64% to $343 Million

• JPMorgan increased its iShares Bitcoin Trust holdings by 64%, raising its total stake to over $343 million.
• The move comes as the Bitcoin ETF market begins to recover, with recent inflows reversing a six-day streak of outflows.

JPMorgan Chase has increased its investment in Bitcoin ETFs, raising its holdings in the iShares Bitcoin Trust by 64%. The new filing shows the bank now holds more than $343 million worth of shares.

The move comes as Bitcoin’s price is trying to recover from recent market pressure.

JPMorgan Boosts Bitcoin ETF Holdings

JPMorgan Chase has taken a bigger step into the digital asset market by adding more shares of BlackRock’s iShares Bitcoin Trust. 

According to a filing released on November 7, the bank bought an extra 2,067,134 shares during the last quarter. This raised its total to 5,284,190 shares, compared to 3,217,056 shares reported earlier.

The value of the bank’s stake has now grown from about $302 million to over $343 million. Data from Fintel confirmed the increase, showing that JPMorgan has continued to build its position in the largest spot Bitcoin ETF in the market. 

Information from SoSoValue shows that the iShares Bitcoin Trust now manages over $80 billion in total net assets. Overall, IBIT has brought in more than $64 billion in net inflows since its launch.

As highlighted in our previous news brief, the expansion comes a few months after JPMorgan said it would start accepting Bitcoin ETFs as collateral for certain transactions. 

This decision marked a change in the bank’s approach to digital assets, showing a stronger interest in the growing Bitcoin ETF market. It also shows how large financial institutions are slowly increasing their participation in cryptocurrency-related investments. 

As featured in our previous coverage, JPMorgan recently strengthened its ties with the crypto industry through a partnership with Coinbase. The agreement allows direct bank-to-crypto transfers, making it easier for clients to move funds between traditional banking systems and digital assets.

Bitcoin ETF Market Shows Signs of Recovery

JPMorgan’s latest move came just as the U.S. Bitcoin ETF market began to see positive momentum after a week of losses. 

As we discussed earlier, on November 6, Bitcoin ETFs recorded a net inflow of $240 million, ending six straight days of outflows that had reached more than $2 billion. BlackRock’s iShares Bitcoin Trust led the rebound, attracting about $112 million in new funds.

During the same period, Bitcoin’s price moved between $98,900 and $102,000 after falling from highs above $116,000 earlier in October. As detailed in our last news piece, the recent market pullback has created some pressure, but the return of inflows has brought a more positive tone.

Nevertheless, JPMorgan analysts believe Bitcoin still has room to grow. The bank recently suggested that the digital currency could reach around $170,000 within the next six to twelve months if market conditions improve and investor demand continues to rise.